Real Estate Termination and Change of Association Fee Change

Effective January 1, 2013, revisions to Article 12A of the Real Property Law have amended the fees for performing the "Termination of a Salesperson or Associate Broker" and "Change of Association" transactions. The new fees are as follows:

• Termination Fee will change to $0 for each transaction
• Change of Association Fee will change to $20 per transaction

The online Real Estate System, eAccessNY, has been modified to incorporate these revised fees effective January 1, 2013. The statute continues to mandate that each broker perform these transactions in a timely manner.